Cerebras reported its financial results for the second quarter, with revenue up 74.3% to $180.11 million, but its shares plunged over 18% in after-hours trading as it missed analysts' expectations. The company's cloud services revenue surged 281%, but hardware sales dropped, leading to an operating expense increase and a loss of roughly $450.53 million.
Despite this, Cerebras raised its annual revenue and gross margin forecasts, citing strong demand for its AI chips. The company expects 2026 adjusted revenue to be between $880 million and $890 million, with an adjusted gross margin of 40.6%, down from 46.5% in the previous quarter.
In other news, Nebius reported a 514% surge in AI cloud sales, driving its shares up 20%. The company's cloud sales reached $514 million, with a total contract value of $4 billion. Snowflake's Observe platform now allows AI agents direct access to operational telemetry data, enabled by the updated Model Context Protocol (MCP) server and CLI tool.
Additionally, CrowdStrike expanded its Project QuiltWorks security framework to small and medium-sized businesses, combining AI-driven vulnerability discovery, remediation services, and cyber insurance protection. The AI Trust and Security Consortium (AITSC) was launched to set peer-defined standards for enterprise AI, bringing together cross-industry security and IT leaders to build AI guardrails.
Key Takeaways
• Cerebras Q2 revenue up 74.3% to $180.11 million, but shares plunged 18% due to missed expectations. • Cerebras expects 2026 adjusted revenue to be between $880 million and $890 million. • Nebius AI cloud sales surged 514% to $514 million. • Snowflake's Observe platform allows AI agents to access operational telemetry data. • CrowdStrike expanded Project QuiltWorks security framework to small and medium-sized businesses. • AI Trust and Security Consortium (AITSC) launched to set standards for enterprise AI. • Karoline Leavitt used AI-generated content in her farewell statement. • Elon Musk predicts AI revenue will outpace all other SpaceX business lines within months. • MobileJudgeBench benchmark introduced for evaluating LLM-based judges on mobile agent trajectories.Cerebras shares plummet 20% after earnings miss
Cerebras reported its financial results for the second quarter, with revenue up 74.3% to $180.11 million, but its shares plunged over 18% in after-hours trading as it missed analysts' expectations. The company's cloud services revenue surged 281%, but hardware sales dropped. Cerebras' operating expenses rose, and it lost roughly $450.53 million.
Cerebras raises annual targets on strong AI chip demand
Cerebras Systems raised its annual revenue and gross margin forecasts, citing strong demand for its AI chips. The company's adjusted gross margin was 40.6%, down from 46.5% in the previous quarter. Cerebras expects 2026 adjusted revenue to be between $880 million and $890 million.
AI Trust and Security Consortium launches
The AI Trust and Security Consortium (AITSC) was launched to set peer-defined standards for enterprise AI. The consortium aims to bring together cross-industry security and IT leaders to build AI guardrails.
Karoline Leavitt used AI in exit statement
Karoline Leavitt, former White House Press Secretary, used AI-generated content in her farewell statement. The statement included an image that appeared to be AI-generated.
Nebius shares leap 20% on AI cloud sales
Nebius reported a 514% surge in AI cloud sales, driving its shares up 20%. The company's cloud sales reached $514 million, with a total contract value of $4 billion.
Observe connects AI agents to telemetry
Snowflake's Observe platform now allows AI agents direct access to operational telemetry data. The updated Model Context Protocol (MCP) server and CLI tool enable AI systems to query Observe's context graph.
CrowdStrike expands AI security program
CrowdStrike expanded its Project QuiltWorks security framework to small and medium-sized businesses. The program combines AI-driven vulnerability discovery, remediation services, and cyber insurance protection.
NCW Tech Alliance Artificial Intelligence Expo
Protestors gathered outside the Wenatchee Convention Center to protest AI, data centers, and companies sponsoring the NCW Tech Alliance's AI Expo. The protest was organized by activists concerned about the environmental impact and ethics of AI.
Today in AI: Musk's AI revenue bombshell
Elon Musk predicts AI revenue will outpace all other SpaceX business lines within months. AI infrastructure stocks surged, with CoreWeave and Super Micro gaining 19%.
Benchmarking LLM judges for mobile agent evaluation
Researchers introduced MobileJudgeBench, a benchmark for evaluating LLM-based judges on mobile agent trajectories. The study found that a simple baseline judge with sampled screenshots was competitive with purpose-built methods.
Sources
- Cerebras shares plunge nearly 20% after missing earnings expectations — hardware sales drop but AI cloud revenue climbs 281%
- Cerebras raises annual targets on strong AI chip demand
- AI Trust and Security Consortium Launches to Set Peer-Defined Standards for Enterprise AI
- Karoline Leavitt Busted Using AI in Exit Statement
- Nebius Shares Leap 20% as AI Cloud Sales Surge 514%
- Observe connects AI agents to telemetry
- CrowdStrike expands AI security program to small businesses
- NCW Tech Alliance Artificial Intelligence Expo Draws Protestors
- Today in AI: Musk's AI Revenue Bombshell and Infrastructure Boom
- Benchmarking LLM Judges for Mobile Agent Evaluation
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